24/7 Market News Snapshot 21 August, 2024 – Smart for Life, Inc. Common Stock (NASDAQ:SMFL)

August 21, 2024

DENVER, Colo., 21 August, 2024 (247marketnews.com) – (Nasdaq:SMFL) are discussed in this article.
Smart for Life, Inc. (Nasdaq:SMFL), a leader in the Health & Wellness sector known for its innovative nutritional supplements and food products, is experiencing a significant pre-market surge, with shares climbing over 160% to approximately $2.659. This surge is accompanied by a striking trading volume of 15.69 million shares, reflecting heightened investor interest amid a positive market sentiment.

The company’s growth momentum is further bolstered by its active negotiations for the acquisition of four profitable Health & Wellness companies, aiming to expand its market presence. The acquisitions under consideration include a recognized contract manufacturer with annual sales around $12 million, an established supplement brand generating approximately $10 million, and a profitable wholesale manufacturer and distributor earning about $8 million annually.

A.J. Cervantes, Jr., Chairman of Smart for Life, expressed the company’s strategic focus on sustainable revenue and earnings growth through the acquisition of well-positioned firms in the nutritional supplement sector. Following a comprehensive restructuring phase, the company is keen to reignite its merger and acquisition activities, potentially unlocking transformative opportunities.

CEO Darren Minton highlighted the ambitious goal of reaching $100 million in revenue through a combination of organic and strategic growth initiatives. While the completion of any specific acquisition remains uncertain, the increasing pipeline of potential targets is promising and could significantly enhance the company’s trajectory.

Smart for Life is committed to delivering innovative health solutions and upholding its dedication to high-quality products and customer satisfaction within the nutraceutical industry. Stakeholders will be kept informed as the company advances its strategic growth plans, positioning itself for continued success in a rapidly evolving market.

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